Nisha Raj

1st December 2017

Have a great business idea? Want to feel relaxed by being your own boss? A successful business is a dream of everyman but it comes with a challenging risk of leaving the stable job to start a new venture. But, you need not worry as no one can stop you if you have a proper idea and balanced plan in mind.The idea of investing in yourself to be financially independent is simply a great thing, remember that.

Though a new business always needs to be tracked more consciously, you should plan everything and then move forward. With a number of solutions available online to help you establish your business, you can get your business on track without much hassle.

Now, if this feels convincing enough, you should know how to create a plan for a successful venture, considering startup problems and available solutions. Here are a few steps which you will need to follow and plan before moving ahead:

#1: Self-Research for a Feasible Startup Idea

Most probably you have already thought of a business idea for your startup, so now it’s time to check its feasibility. Start with the foremost question: Does your business idea have the power to succeed? For the answer, just run your idea through a validation process with a few self-asking questions like:

  • What is my goal? Am I fully convinced by my own plan?
  • Will I be able to go through the structure channel of laws and regulations?
  • Have I gone through my financial implications of starting my business?
  • Do I really have a unique idea for my business? It can be few unique services.

Getting these questions answered will give you full satisfaction of moving to the next level.

#2: Tackling the Financial Challenge

The thought of starting up a business comes with a direct question of how to manage finances. Funds are needed for everything to start a business like: Buying office, furniture, for license, registration, employees, and more. So, this brings us to another checklist:

  1. How much funds do you have?
  2. How much loan would you require?
  3. Would you need investors for your business?

You can even start a business with as little funds/capital as your idea requires. The above listed questions will help you to go faster with the idea if you have all the answers. Even, you can find many investors ready to invest in a startup if they like the proposal. All you need is self-confidence and reliability on your idea.

#3: Finding & Registering the Right Name

Your business name will play a vital role in every phase of your business, so it should be an easy, unique, and a good one. You can choose a different name which can be easily memorable. It can be made up of unique name or words, or may contain common everyday words turned into a brand.

Also, the name should be in-line with your business idea, and can be linked to your products/services easily. After finalizing a name, you will need to check its trademark status and get it registered if it’s currently not in use.

#4: Getting the Required Licenses & Permits

Paperwork is an integral part of starting a new business. You might need to apply for a number of business licenses & permits depending on the type and area of your business. You need to identify the right licenses and permits that you need for your business and apply for the same.

#5: Deploy the Right Accounting System

A business runs more efficiently and produce profits with the right systems in place. For instance, if you take up a loan but maintain no record of its use and your expenditures, you will probably end up with questions, like where is the money? Where had you invested that amount? All your efforts will be ruined with a lack (or improper use) of funds.

Nothing to worry yet, you still have that time to plan adding a vital system to your business, an accounting system. Here, platforms like Aileensoul come to the rescue of its clients by providing services for start-up owners to setup their business. You can connect with other businesses to know which accounting software will match your business needs. You can connect with a software solutions provider for a dedicated accounted system or use the hiring services to find an accountant.

# 6: Finding the Right Business Location & Staff

When we think of buying anything, we usually prefer the locality factor. So if you want your business to flourish, you need to find the best location that matches with your business idea and services. A business space is must to attract customers while proper services provided by a well-trained staff will do the rest. You can use platform like Aileensoul to find a suitable shared or private office space or a retail location for your business. If your finances allows you, then you can buy or lease your commercial space. You just need to add details of your requirements on internet. You can connect with a number of sellers or property advisors to find the right space for your business.

Another thing that matters the most for your business success is the team you need for your idea to run. Such an important decisioncan be taken only if someone gains your trust with his capabilities. To get your team you can hire online by using Aileensoul’sjob profile section where you can search for the right candidates to interview for your business.

#7: Addressing the Competitive Market with Effective Promotion

Once everything is in place, you need to start attracting clients and customers. To start with the basics, you need to create(or get created) an effective marketing plan to promote your business. Promoting a business online is in trend these days as internet has provided a tremendous platform to sellers and manufacturers to showcase their products and services to people sitting at their home. Start with listing your business on platforms like Google My Business, Yelp, Whitepages or Aileensoul to exhibit your services to your target audience.

Thus, you need to do the right research and invest required efforts to turn your start-up into a successful business. Always remember that Success doesn’t come overnight. You need to burn mid night oil for everything you want in successful life. Good luck for your experience and business.

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